What was the total assets for Caring Senior Service in 2023?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
ts December 31, 2024, 2023, and 2022**
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Cash and cash equivalents | $ 519,628 | $ 257,005 | $ 130,008 |
| Acounts receivable: | |||
| Trade | 82,374 | 23,729 | 44,144 |
| Related party | 6,513 | 430 | 37,869 |
| Prepaid expenses | 3,924 | 16,484 | 63,733 |
| Total Current Assets | 612,439 | 297,648 | 275,754 |
| Property and equipment, net of depreciation | - | 5,627 | 15,271 |
| Notes receivable | 51,846 | - | 12,000 |
| TOTAL ASSETS |
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the total assets for the company in 2023 were $303,275. This figure represents the sum of all current assets, property and equipment (net of depreciation), and notes receivable held by the company during that year. Current assets include cash and cash equivalents, accounts receivable (trade and related party), and prepaid expenses.
Specifically, the balance sheet provides a detailed breakdown of how Caring Senior Service's assets were allocated in 2023. This includes $257,005 in cash and cash equivalents, $23,729 in trade accounts receivable, $430 in related party accounts receivable, $16,484 in prepaid expenses, and $5,627 in property and equipment, net of depreciation. There were no notes receivable listed for 2023.
Understanding the asset composition of Caring Senior Service can be valuable for prospective franchisees. It provides insight into the company's liquidity (cash and equivalents), its ability to collect revenue (accounts receivable), and its investments in physical assets (property and equipment). Reviewing these figures over the three-year period (2022-2024) can reveal trends and potential areas of growth or concern.